RV or FV? Bankers keen to see KfW’s opening level for euro 10 year

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By Burhan Khadbai
26 Aug 2020

After KfW mandated banks on Wednesday to join the 10 year euro flurry, the question on the minds of market participants is at what level the Germany agency will choose to start at with such a wide differential between relative and fair value.

Barclays, Goldman Sachs, LBBW and TD Securities have been appointed to lead KfW’s new September 2030 euro benchmark.

KfW will be the latest public sector borrower to hit the 10 year part of the euro curve this week following deals by the European ...

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